Global economy to be better next year, CIBC’s chief economist says

Avery Shenfeld, kicking off the St. John’s Board of Trade’s annual Business Development Summit at the Delta hotel Thursday morning, told the crowd that the global economy is still somewhat soft.

“But we actually see signs that we’re not in a period of slow growth forever,” he said. “We think that, in fact, there’s a case to be made that 2014 will be a very good year for the global economy.”

Global economic growth this year is projected to be about three per cent, under the desired four to five per cent, said Shenfeld. In 2014, though, the European and U.S. economies are expected to be performing much better.